innovative - friday, page-18

Here is the theory: that last few sessions in the US have been held down by a couple of dodgy blue chip reports and the upper channel on the NASDAQ Composite. That channel line is about 15 points North of last sessions close. Now the Microsoft and Amazon beats should mean that that index opens above the channel line (100 futures are about 22 points above the price at the close of the cash index).

The channel line being taken out may cause the computers to go on a buying spree - it is all computers that do this stuff, computers do it by themselves.

The techs will almost certainly make new highs. SPX should follow, tonight. Should.

No charts today here as Jeeps seems to be in a positive mood, lest I upset the apple cart ;)